Question

21. At what rate percent per annum will a sum of money double in 8 years?
(A) 7%
(B) 10.50%
(C) 12.50%
(D) 15%




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Answer 1

Answer:

12.5% per annum

so lets say its 12.50% for your question.

Step-by-step explanation:

At what rate percent per annum will a sum of money double in 8 years. Rate = [(100 x P)/ (P x 8)]% = 12.5% per annum.